Save Article

Oracle Reports Earnings Gain of 11%

By

David Bank Staff Reporter of The Wall Street Journal

Updated March 12, 2004 12:01 a.m. ET

Oracle Corp. said growth in its mainstay database business pushed net income up 11% and revenue up 8.8% in the fiscal third quarter, and predicted an upturn in corporate technology spending would continue throughout the year.

But in the closely watched applications-software business, the focus of Oracle's $9.4 billion hostile bid to acquire PeopleSoft Inc., revenue from new licenses was flat, and even showed a 5% decline when adjusted for the weakness of the U.S. dollar. A lawsuit by the Justice Department, which is...